Beazley has launched a new cyber consortium providing cover for large corporates with a turnover in excess of US$1bn, infusing US$100m of new capacity into the cyber market.
Beazley Quantum is led by Beazley’s cyber underwriting and claims handling teams, and is available on the Global Wholesale platform via Lloyd’s.
Paul Bantick, chief underwriting officer, Beazley said: “As a leader in the cyber space, we have steadfastly taken strategic steps to build a thriving and sustainable cyber insurance market. With the launch of Beazley Quantum, we are directly addressing the needs of large corporates and delivering much needed additional capacity to these businesses that are in the frontline of the cyber threat.”
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